Allegion, a global security products and solutions provider, launched Allegion Ventures – a $50 million corporate venture fund formed to accelerate the growth of innovative technologies and products.
“Creating this corporate venture fund underscores Allegion’s commitment to investment in growth companies, which is a part of our long-term strategy, as evidenced by our previous investments in Yonomi and Nuki,” said Allegion Chairman, President and CEO David D. Petratis.
Allegion Ventures will invest in early-stage companies that are poised for growth and going beyond traditional approaches to make security and access smarter, stronger, faster and less intrusive. Rob Martens has been named Allegion Ventures’ president – he also serves as Allegion’s head of external partnering and collaboration, as well as its global futurist. Wade Sheek, deputy general counsel for Allegion, will serve as Allegion Ventures’ managing principal.
“Allegion is intent on being at the leading edge of discovery,” said Martens. “We want to use our knowledge of how real people live and work to make security and access better in the future. With the addition of a venture fund, Allegion – already a pioneer in the industry – will help companies grow and scale faster as a result of our market expertise.”
Allegion’s experience in residential and commercial markets, distribution and marketing presence in almost 130 countries, manufacturing capabilities and robust knowledge of IoT trends make it uniquely qualified to help portfolio companies reach their full potential. As an established leader in safety and security, Allegion has a proven track record of bringing tech-enabled products to global markets. The Allegion Ventures team understands the balance needed between the adoption of new technology and prudent security.
Allegion has partnered with corporate venture capital firm Touchdown Ventures to assist in managing the fund. Touchdown works with several Fortune 500 corporate venture funds in a similar capacity.